Slime moulds usually appear on dead grass as they feed on dead organic matter and cause no real harm. More than 900 species of slime mold occur all over the world. Their common name refers to part of some of these organisms’ life cycles where they can appear as gelatinous “slime”.  Most slime molds are smaller than a few centimeters, but some species may reach sizes of up to several square meters and masses of up to 30 grams.
They feed on microorganisms that live in any type of dead plant material. They contribute to the decomposition of dead vegetation, and feed on bacteria, yeasts, and fungi. For this reason, slime molds are usually found in soil, lawns, and on the forest floor, commonly on deciduous logs
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Handy Tip:  Keep organic matter off your lawn such as leaves and grass cuttings to discourage Slime moulds forming.